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In Australia, rising nickel production

Volumes of production of nickel in Australia last financial year, which ended in June, increased by 11%. This is according to Australian Bureau of Agricaltural and Resource Economics.

During this period, the country released 164 thousand. Tonnes of nickel. In the current fiscal year, according to ABARE estimates, the production of nickel in Australia will grow by 15% and will reach 188 thousand. Tonnes. This will be possible thanks to the launch of Mines Western Areas, Flying Fox and Spotted Quoll.

As you know, today Australia is one of the largest nickel-producing countries in the world.

By the way, analysts «International Nickel Study Group» expect the global nickel market balance. According to their calculations, the demand for the metal will be at the level of 1.39 million tonnes, while production — 1.4 million tons.

According to the conclusions INSG demand for nickel has increased due to the growth of manufacture of stainless steel in most regions of the world in the I quarter of this year.

Recall that in February 2010, the global demand for nickel for the first time exceeded the supply crisis. Thus, production in the world in the period amounted to 107.7 thous. Tons, while the demand for the metal has reached 111 thousand. Tonnes.